康达新材料（集团）股份有限公司 向特定对象发行股票 之 上市保荐书 中邮证券有限责任公司 关于 保荐机构（主承销商） （陕西省西安市唐延路 5 号（陕西邮政信息大厦 9-11 层）） 2025 年 11 月 康达新材料（集团）股份有限公司 上市保荐书 声 明 中邮证券有限责任公司（以下简称"中邮证券"、"保荐机构"或"本保荐 机构"）及其保荐代表人李小见、王楠根据《中华人民共和国公司法》（下称《公 司法》"）、《中华人民共和国证券法》（下称"《证券法》"）、《上市公司证券发 行注册管理办法》（以下简称"《注册管理办法》"）《证券发行上市保荐业务管 理办法》（以下简称"《保荐管理办法》"）等有关法律、法规和中国证券监督管 理委员会（以下简称"中国证监会"）的有关规定以及深圳证券交易所（以下简 称"深交所"）的有关业务规则，诚实守信，勤勉尽责，严格按照依法制定的业 务规则和行业自律规范出具本上市保荐书，并保证上市保荐书的真实、准确、完 整。 如无特别说明，本上市保荐书中所涉简称与《康达新材料（集团）股份有限 公司向特定对象发行股票募集说明书》一致。 3-3-1 | 控股股东、实际控制人及重要关联方任职的情况； | ...

中邮证券有限责任公司 关于 康达新材料（集团）股份有限公司 向特定对象发行股票并上市 之 发行保荐书 2025 年 11 月 康达新材料（集团）股份有限公司 向特定对象发行股票并上市之发行保荐书 声明 本保荐机构及保荐代表人根据《中华人民共和国公司法》、《中华人民共和国 证券法》、《上市公司证券发行注册管理办法》、《证券发行上市保荐业务管理办法》 等有关法律、行政法规和中国证券监督管理委员会及深圳证券交易所的规定，诚 实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则出 具本发行保荐书，并保证所出具文件的真实性、准确性和完整性。 3-1-1 | | | 保荐机构（主承销商） 康达新材料（集团）股份有限公司 向特定对象发行股票并上市之发行保荐书 释义 本发行保荐书中，除非文义另有所指，下列简称和术语具有如下含义： | 本公司、公司、发行人、 上市公司、康达新材 | 指 | 康达新材料（集团）股份有限公司，股票代码：002669 | | --- | --- | --- | | 唐山工控 | 指 | 唐山工业控股集团有限公司 | | 本次发行 | 指 | 康达新材向特定对象发行股票 | | 报告期 ...

RSM 容诚 审计报告 康达新材料（集团）股份有限公司 容诚审字|2025|210Z0087 号 容诚会计师事务所 (特殊普通合伙) 中国·北京 您可使用手机"扫一扫"或ջN】攻逃入"注册会计师行业统一监管平台（http://ac.mof.gov.cn）"进行查询 "这个查 目 录 | 序号 | 容 | 项得 | | --- | --- | --- | | 1 | 审计报告 | 1-7 | | 2 | 合并资产负债表 | 1 | | 3 | 合并利润表 | 2 | | 4 | 合并现金流量表 | 3 | | 5 | 合并所有者权益变动表 | 4 | | 6 | 母公司资产负债表 | 5 | | 7 | 母公司利润表 | 6 | | 8 | 母公司现金流量表 | 7 | | 9 | 母公司所有者权益变动表 | 8 | | 10 | 财务报表附注 | 9 - 126 | 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制, 公允反映了康达新材公司 2024年 12 月 31 日的合并及母公司财务状况以及 2024 年度的合并及母公司经营成果和现金流量。 6-1-2 审计报告 容诚审字[2025]21 ...

南财智讯12月5日电，康达新材公告，公司于近日收到深圳证券交易所出具的《关于受理康达新材料 （集团）股份有限公司向特定对象发行股票申请文件的通知》（深证上审〔2025〕247号），深交所对 公司报送的向特定对象发行股票的申请文件进行了核对，认为申请文件齐备，决定予以受理。公司本次 向特定对象发行股票事宜尚需深交所审核通过，并获得中国证券监督管理委员会同意注册后方可实施。 最终能否通过深交所审核并获得中国证券监督管理委员会同意注册的决定及其时间仍存在不确定性。公 司将根据上述事项的进展情况，严格按照相关规定及时履行信息披露义务，敬请广大投资者注意投资风 险。二〇二五年十二月六日 ...

12月4日，康达新材(002669)向特定对象发行股票申请获深交所受理。本次拟发行数量不超过9102.00万 股，预计募集资金5.85亿元。本次发行保荐机构为中邮证券有限责任公司。（数据宝） （文章来源：证券时报网） ...

Core Viewpoint - The semiconductor industry is experiencing a wave of mergers and acquisitions (M&A) driven by the integration of capital and technology, with expansion being the central theme for 2025. However, the outcomes of these M&A activities are varied, with some companies facing challenges in profitability despite aggressive acquisition strategies [1][8]. Group 1: M&A Activity and Market Trends - The semiconductor sector is witnessing a surge in M&A announcements, with significant transactions such as the acquisition of Chengxin Micro by Hidi Micro for 310 million yuan and the acquisition of 86.12% of Aola Semiconductor by SIRUI [3][4]. - The total disclosed transaction value in China's M&A market exceeded 170 billion USD in the first half of 2025, marking a 45% increase year-on-year, with high-tech and health sectors being prominent areas for large-scale M&A [3][4]. Group 2: Strategic Motivations for M&A - Companies are pursuing M&A to rapidly acquire technology and strategically position themselves in the market, with a focus on achieving synergies between products and customer resources [4][7]. - The recovery of the consumer electronics market is providing a favorable environment for business integration post-M&A, as evidenced by Hidi Micro's projected revenue growth of 38.56% in 2024 [5][6]. Group 3: Challenges and Risks in M&A - Not all M&A transactions yield the expected results, as high technical barriers and strong business interconnections in the semiconductor industry complicate post-merger integration [8][10]. - For instance, Kangda New Materials faced significant challenges after acquiring several companies, leading to a decline in profitability and substantial goodwill impairments due to underperformance of acquired entities [9][10].

Group 1 - The semiconductor industry is experiencing a significant merger and acquisition (M&A) wave driven by capital and technology integration, with expansion being the core theme for 2025 [1] - In the first half of 2025, China's disclosed M&A transaction volume exceeded $170 billion, marking a 45% increase year-on-year, with high-tech, health, and industrial sectors being key areas for large-scale mergers [1] - Notable transactions include Haiguang Information's acquisition of 100% equity in Zhongke Shuguang for approximately 115.97 billion yuan [1] Group 2 - Major semiconductor companies are actively pursuing acquisitions to quickly obtain technology and strategically position themselves in the market, as evidenced by recent announcements from companies like Hidi Micro and SIRUI [2][6] - Hidi Micro's acquisition of Chengxin Micro for 310 million yuan aims to enhance its product offerings in power management and motor chips, indicating a trend of companies seeking to broaden their product categories and applications [2][6] - The recovery of the consumer electronics market is providing a favorable environment for post-merger business integration, with Hidi Micro projected to see a 38.56% increase in revenue in 2024 [6] Group 3 - The semiconductor industry is characterized by rapid technological iteration and long R&D cycles, making M&A a pragmatic choice for business expansion [5] - Successful M&A transactions often hinge on the synergy of technology, products, and customer resources rather than mere scale, as demonstrated by Nanchip Technology's acquisition of Zhuhai Shengsheng Microelectronics [8] - Nanchip's revenue grew by 17.6% year-on-year in the first half of 2025, supported by improved product structure post-acquisition [8] Group 4 - Not all M&A efforts yield positive results; high technical barriers and strong business interconnections in the semiconductor industry can complicate post-merger integration [10] - Kangda New Materials' attempts to diversify into the semiconductor sector through acquisitions have not improved profitability, with a significant drop in net profit from 0.48 billion yuan in 2022 to a loss of 246 million yuan in 2024 [11] - The company faced substantial goodwill impairment due to underperformance of acquired entities, highlighting the risks associated with M&A in this sector [11] Group 5 - Companies are increasingly cautious in their M&A strategies, as seen in Kangda New Materials' decision to terminate a planned acquisition of Beiyi Semiconductor due to unmet expectations [12] - The industry emphasizes the importance of assessing the compatibility of target technologies with existing business models and the ability to integrate post-acquisition [12][13] - Timely strategy adjustments and risk avoidance are crucial for sustained growth in the semiconductor industry [13]

Core Viewpoint - The company has decided to terminate the acquisition of at least 51% of Beiyi Semiconductor Technology (Guangdong) Co., Ltd., reflecting a cautious approach in capital operations amid financial pressures and risks [1][3]. Group 1: Transaction Background - Kangda New Materials, a leader in adhesive and specialty resin materials in China, has pursued business expansion through acquisitions since 2017, acquiring companies like Biko Technology and Crystal Material Technology [2]. - Despite multiple acquisitions, the company has not achieved sustained profit growth, with net profit declining from 48 million yuan in 2022 to a loss of 246 million yuan in 2024, largely due to a significant goodwill impairment of 155 million yuan in 2024 [2]. - Beiyi Semiconductor focuses on power semiconductor module development and production, with a valuation of approximately 2.5 billion yuan based on its B+ round financing in May 2024 [2]. Group 2: Reasons for Termination - The acquisition was terminated due to insufficient progress in due diligence and audit work, as well as a lack of consensus among the parties involved [3]. - Financial pressure and cash flow concerns were significant factors, as the company faced a loss of 246 million yuan in 2024 and had not fully alleviated prior financial burdens [3]. - Discrepancies in the target's qualifications and valuation were noted, with potential issues regarding revenue and profit data, as well as concerns over the sustainability of new product profitability [3]. - Differences in transaction terms and valuation expectations between the shareholders of Beiyi Semiconductor and Kangda New Materials further complicated the acquisition [3]. Group 3: Industry Implications - The case of Kangda New Materials highlights a shift in the A-share merger and acquisition market, where companies are increasingly focusing on the profitability and synergy of acquisition targets rather than mere scale expansion [4]. - The termination of the acquisition serves as a prudent choice to avoid risks and reflects on past challenges such as goodwill impairment and asset sales [4]. - Moving forward, the company may prioritize its core adhesive business and semiconductor materials sector, aiming for growth through technological upgrades rather than capital operations [4].

Group 1 - The company held its 13th meeting of the 6th Board of Directors on December 1, 2025, with all 13 directors present, confirming compliance with legal and regulatory requirements [2][11]. - The Board approved the extension of the third and fourth employee stock ownership plans by 12 months, with the new expiration dates set for January 5, 2027, and February 27, 2027, respectively [3][22][28]. - The decision to extend the employee stock ownership plans was based on the approval from the respective holders' meetings and aligns with regulatory guidelines [3][22][28]. Group 2 - The company conducted its fifth temporary shareholders' meeting on December 1, 2025, with a total of 296 shareholders present, representing 6,170,032 shares, or 2.1219% of the total voting shares [12][16]. - The shareholders approved the adjustment of the estimated daily related party transactions for 2025, with 88.0730% voting in favor [16][17]. - The meeting's procedures were confirmed to be in accordance with legal and regulatory standards, ensuring the validity of the voting process [18].

（一）第三期员工持股计划基本情况 证券代码：002669 证券简称：康达新材 公告编号：2025-126 康达新材料（集团）股份有限公司 关于延长第三期和第四期员工持股计划存续期的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 康达新材料（集团）股份有限公司（以下简称"公司"）于2025年12月1日召 开第六届董事会第十三次会议审议通过了《关于延长第三期和第四期员工持股计 划存续期的议案》，根据中国证监会《关于上市公司实施员工持股计划试点的指 导意见》、《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规 范运作》及《康达新材料（集团）股份有限公司第三期员工持股计划》（以下简 称"《第三期员工持股计划》"）和《康达新材料（集团）股份有限公司第四期 员工持股计划》（以下简称"《第四期员工持股计划》"）等有关规定，同意公 司第三期和第四期员工持股计划的存续期分别延长12个月，即第三期员工持股计 划的存续期延长至2027年1月5日，第四期员工持股计划的存续期延长至2027年2 月27日。现将相关情况公告如下： 一、员工持股计划基本情况 公司分别于202 ...